National Equity Fund

Building Homes, Communities, and Futures

Learn More

Ul2 Final (1)

Mission & Vision

National Equity Fund's mission is to create and deliver innovative, collaborative financial solutions to expand the creation and preservation of affordable housing. We strive to be diverse, equitable and an inclusive place to work so that our team has the experience and knowledge to effectively support our partners and communities.

Our vision is that all individuals and families across the country have access to stable, safe and affordable homes that provide a foundation for them to reach their full potential.



  • One of the largest Non-profit Tax Syndicators committed to expanding, diversifying and preserving affordable housing for the long term
  • Mission-driven experts in Low-Income Housing Tax Credits since 1987
  • Pioneers in Supportive Housing with three decades of demonstrated impact
  • Innovators in finding new ways to deepen and broaden the creation and preservation of affordable housing with expertise in preservation lending, workforce housing and pre-development lending
  • Industry leaders in combining Opportunity Zone credits with LIHTC
  • Cultivators of long-term partner relationships and award-winning projects in urban, suburban and rural areas

Innovative & Collaborative Solutions

Low-Income Housing Tax Credits (LIHTC)

Enacted in 1986, the federal low-income housing tax credit (LIHTC) was created to advance the production and preservation of affordable housing. Each state allocates LIHTC to qualified affordable housing developers who then sell them to an investor, or to a tax-credit syndication fund made up of equity from one or from many investors. In return, the investors receive a credit against their federal income tax based on the size of their investments.

Predevelopment Loans

NEF’s pre-development lending team provides critical early financing to assist our partners in developing affordable housing. Targeted pre-development funds cover a variety of development expenses, from professional fees to acquisition, including the costs of tasks that need to be completed before construction closing.

Workforce Housing

NEF offers specialized financing solutions targeted to working individuals and families in the "missing middle" who are not income-eligible for LIHTC properties but struggle to find affordable housing options in neighborhoods close to job opportunities.  

11 (1)
Preservation Lending

NEF's experienced Preservation Lending team provides financing to multi-family property owners to help low-income families and individuals stay in their homes, and not be displaced as rents increase.

Familyseniorcolor 1800X2288 Cmyk
Supportive Housing

NEF has been a pioneer in permanent supportive housing since the very first days of LIHTC. Our supportive housing leaders are advocates for the most vulnerable individuals and families, experts in the planning and operation that goes into these developments and knowledgeable about government programs and policies that can help families and individuals to thrive.

Milwaukee Soldiers
Emerging Minority Developers Fund

NEF's Emerging Minority Developer Fund (EMDF) was designed to create access to equity capital resources to facilitate accelerated development capacity and wealth creation for Black, Indigenous and People of Color (BIPOC) developers who have not had proportionate and consistent access to LIHTC. With our investor partners, we have committed capital for the Fund well exceeding our original $100 million target.

Shhands 1800X1358

Website Images (4)
January 26, 2023

NEF Announces $2.1 Billion in Affordable Housing Investments for 2022, Nearly Matching Record Performance in 2021

Despite continued economic and market headwinds, NEF invested over $1.2 billion in Low-Income Housing Tax Credit (LIHTC) investments and nearly $900 million to preserve existing affordable housing throughout 2022, resulting in nearly 15,500 affordable homes nationwide.

Read More
OST Lofts
January 11, 2023

OST Lofts Will Bring More Affordable Housing to Houston Amid Shortage

We are buzzing with anticipation for construction to begin on OST Lofts in Houston! As the city struggles with a shortage of affordable housing, the City Council has approved a loan to the Tejano Center for Community Concerns to build a 130-unit affordable housing development on purchased land. The city was already experiencing a shortage of affordable housing before the devastation of Hurricane Harvey depleted nearly 25 percent of its existing units...

Read More
Flats At 402
January 05, 2023

Affordable Housing Community Coming Soon to Madison, WI

Congratulations to our partners at Bear Real Estate Group on last month's closing of The Flats at 402 in Madison, Wisconsin. Because of our partners at Bear Real Estate, and an incredible $12 million in financing from NewPoint Real Estate Capital, some much needed affordable housing will soon be available for individuals and families in the area. Within four blocks of the Wisconsin State Capitol, this affordable housing community will provide 54 homes...

Read More
Hayu Tilixam 2Crop
December 29, 2022

Hayu Tilixam Opens with Ribbon Cutting in Portland, OR

Congratulations to all involved in this month's ribbon cutting of Hayu Tilixam! We are so proud to partner with organizations like Native American Youth and Family Center (NAYA) and Community Development Partners (CDP), who lead the charge in developing this project in Portland's Cully neighborhood.

Hayu Tilixam, which means "Many Nations" in the Chinook language, offers 50 new affordable housing units and is the third project by CDP and NAYA to provide housing opportunities for the Native community in northeast Portland...

Read More
December 22, 2022

Northwoods Celebrates Ribbon Cutting in Plattsburg, NY

Congratulations to our partners at Housing Visions Unlimited, Inc on the official ribbon cutting for Northwoods, a new affordable and supportive living community in Plattsburgh, NY! The ceremony was attended by partners, investors and state and local officials. This development brings 80 homes (1, 2 and 3-bedrooms) for individuals and families earning 80 percent or less of the AMI. Half of the units will include mental health support services through the New York State Department of Mental Health...

Read More
December 20, 2022

The Groves Celebrates Grand Opening in San Juan Capistrano

Our team had a wonderful time at the grand opening of The Groves senior development in San Juan Capistrano, California! The Groves is a new, 75-unit affordable senior living community created by our incredible partners at C&C DEVELOPMENT CO., LLC. The project offers 1- and 2-bedroom homes and features amenities that will benefit active seniors, including walk-in closets, elevator services and ADA accessible and adaptable units...

Read More
December 19, 2022

Red Tail Crossing Breaks Ground and Overcomes Covenant in Westchester

Sending a big congratulations to our partners at Community Corporation of Santa Monica on the groundbreaking of Red Tail Crossing. This is the first entirely affordable housing and permanent supportive housing development in the Westchester area! Red Tail Crossing will serve households earning between 15 and 70 percent of the AMI. The development will also bring a total of 102 units to the area in a mix of 1, 2 and 3-bedrooms. 40 of the 1-bedroom units will be reserved for formerly homeless individuals and 52 will be reserved for families...

Read More
Rendering Of The Rise At 1366 East New York Avenue In Brownsville Brooklyn 777X535
December 15, 2022

Xenolith Partners Win Community Impact Competition for The Rise

Sending a big congratulations to our partners at Xenolith Partners on winning the Community Impact Competition for their project The Rise. Located in Brownsville, Brooklyn, The Rise is a 72-unit mixed-use development that offers affordable and supportive housing for formerly incarcerated individuals and families. Xenolith collaborated with the Women's Prison Association and the Brownsville Partnership to bring this project to life, which just broke ground in November 2022...

Read More
Juliette Fowler
December 14, 2022

Juliette Fowler Communities Celebrates 130th Anniversary and Dedication of The Peak

Congratulations to our partners at Juliette Fowler Communities on the celebration of its 130th anniversary and the dedication of the newest building, The Peak at Fowler! Last month, members of the organization were joined by Dallas officials and community members to honor 130 years of collaborative care and service.

The Peak is a 144-unit development for independent-living seniors, addressing the "forgotten middle" senior. These are seniors who can neither afford higher-priced apartments nor qualify for lower-income housing...

Read More
HWL 42 Thumbnail (1)
December 08, 2022

Jaclyn Jackson Featured on How Women Inspire Podcast

We are extremely proud of our SVP and Chief Human Resources Officer, Jaclyn Jackson, who was recently featured on an episode of the How Women Inspire Podcast by How Women Lead!

Read More
Park At Woodland Springs
December 05, 2022

Community HousingWorks Expands Affordable Housing Efforts into Texas

Congratulations to our partners at Community HousingWorks (CHW) on their expansion into Texas with the acquisition of Park at Woodland Springs, a 250-unit development right outside of the Houston area. Over the years, CHW has contributed heavily to the the preservation and new development of affordable housing throughout California...

Read More
November 21, 2022

Matt Reilein Recognized as a Crain's 2022 Notable Nonprofit Board Leader

Our sincerest congratulations to our president & CEO, Matthew Reilein, who has been recognized as one of Crain's 2022 Notable Nonprofit Board Leaders! Read about how Matt's leadership at Chicago Community Loan Fund (CCLF) helped alleviate racial disparities in the financial and affordable housing sectors and inspired the creation of CCLF's Communities of Color fund.

Read More
November 17, 2022

Stone Bridge Lofts Breaks Ground in Goodlettsville

Congratulations to our partners at Holladay Ventures on the groundbreaking of Stone Bridge Lofts, a 311-unit, mixed-use development in Goodlettsville, Tennessee! This is NEF's first deal in Tennessee in some time and will cater to residents earning between 50 and 60 percent of the Area Median Income (AMI). Thank you to our partners at Holladay Ventures for your commitment to building attainable and affordable housing, and thank you to our investors at Amazon Housing Equity Fund and the German American Bank...

Read More
Microsoftteams Image (9)
November 15, 2022

NEF and Esusu Offer Financial Wellbeing to Thousands of Residents in Affordable Housing Communities

NEF is thrilled to announce that we have made an investment in Esusu, a leading financial technology company that leverages rent reporting for credit building. This collaboration is a milestone for NEF as our first strategic technology investment in the community development and affordable housing space...

Read More
Wecoma Place
November 09, 2022

Wecoma Place Breaks Ground in Lincoln City, OR

Congratulations to our partners at Stewardship Development, the Housing Authority of Lincoln County (HALC), Cornerstone Community Housing and Oregon Housing & Community Services (OHCS) on last week's groundbreaking of Wecoma Place, a new affordable housing community in Lincoln City, Oregon! The new development will bring 44 affordable homes to the area, all of which will be one and two-bedroom units available to residents between 30 - 60 percent of the Area Median Income...

Read More
November 04, 2022

WSFSSH at West 108 Celebrates Joyous Dedication & Grand Opening

"A Joyous Dedication" couldn't be more accurate for last week's grand opening of WSFSSH at West 108th Street. Located in the expensive Upper West Side of Manhattan, WSFSSH at W. 108 is an innovative co-location of 100 shelter beds for seniors experiencing homelessness and 199 permanent supportive housing units for low-income and formerly homeless seniors, many of whom are living with serious mental illness and/or substance-use disorders.

Read More
NY Seaview Estates Apartments Staten Island
November 02, 2022

NEF Provides $76 Million Loan to Refinance & Preserve Seaview Estates Complex in Staten Island

Another big win for New York City, this time, on Staten Island! In partnership with Iris Holdings Group, NEF is proud to support the refinancing of the Seaview Estates Complex, a 316-unit multifamily development in the St. George waterfront neighborhood. The complex is comprised of four buildings with affordable homes ranging from studio to three-bedrooms...

Read More
October 27, 2022

Largest Affordable Housing Development Opens in Berkeley, CA

A huge congratulations to our partners at Berkeley Food & Housing Project and BRIDGE Housing Corporation on the grand opening of The Hope Center and Berkeley Way Apartments, the largest affordable housing development in Berkeley, CA! This innovative development is located at 2012 Berkeley Way and composed of two entities combined into one building with the purpose of easing and ending the crisis of homelessness in Berkeley...

Read More
Avenue J S First Family
October 14, 2022

Avenue J Grand Opening Brings Hope to Houston's East End

Sending a huge congratulations to our partners at New Hope Housing, Inc. on the grand opening of Avenue J, a new, 100-unit development in the heart of Houston's historic East End neighborhood. In a community undergoing rapid gentrification, Avenue J offers homes to residents earning between 30 and 60 percent of the Area Median Income. This is New Hope Housing's first development focusing specifically on low-income communities. Historically, the organization has focused on building permanent supportive housing complexes with supportive services for Houston's vulnerable populations.

Read More
NEF Debbieburkart Ad 300X250 Whitewebpost
October 27, 2022

Debbie Burkart Inducted into Affordable Housing Hall of Fame

NEF is thrilled to announce that our very own Debbie Burkart is being inducted into the 2022 Affordable Housing Hall of Fame! A critical thinker, problem solver, motivator, and pioneer in every sense of the word, we are honored to have Debbie as a member of our team and as a 2022 inductee. We cannot wait to celebrate this momentous occasion at AHF Live: The Affordable Housing Developers Summit, Nov. 14-16, in Chicago.

Read More
October 25, 2022

Veterans Villas in Norwalk Breaks Ground

Congratulations to our partners at Mercy Housing (California) on breaking ground at the Veterans Villas at San Antonio in Norwalk, CA last week! Representatives from the City of Norwalk, California and Silicon Valley Bank were present for the celebration. NEF's very own Todd Fabian spoke at the event. The new development will have 60 units dedicated to housing veterans.

Read More
October 07, 2022

Ruth Ellis Clairmount Center Celebrates Grand Opening

NEF was thrilled to attend the grand opening of the Ruth Ellis Clairmount Center in Detroit! The opening of this wonderful permanent supportive housing development brought together residents, civic leaders, investors, developers and neighborhood supporters to participate in a ribbon-cutting, tour of the building and a block party to celebrate a new community cornerstone. With the creation of the Ruth Ellis Clairmount Center, LGBTQ+ youth have access to 43 units of permanent supportive housing, a community health & wellness center, career training and more...

Read More
Intranet News (1)
October 05, 2022

Landmark Place Ribbon-Cutting Celebrates New & Historical

Congratulations to our partners at RUPCO, Inc and investors at TD on the ribbon-cutting of Landmark Place, a new construction and historic preservation development in Kingston, NY! The development consists of the rehabilitated former Kingston Almshouse (Landmark West), which consists of 34 studio apartments. The new construction (Landmark East) is a 4-story building with 32 one-bedroom apartments. All 66 apartments cater to seniors 55 and older. 35 of the apartments are reserved for formerly homeless seniors...

Read More
September 30, 2022

PATH Metro Villas Celebrates Grand Opening

NEF is thrilled to celebrate the grand opening of PATH Metro Villas in Los Angeles! Because of our partners at People Assisting The Homeless (PATH), 187 affordable housing and supportive housing units (and 98 interim housing beds) are available for residents. PATH Metro Villas is an expansive urban campus for low-income households and formerly homeless veterans and individuals. Now, residents can have a safe, stable home in addition to...

Read More
September 29, 2022

Terwilliger Place Celebrates Grand Opening

Congratulations to our partners at Arlington Partnership for Affordable Housing (APAH) on the grand opening of Terwilliger Place! Located in Arlington, Virginia, Terwilliger Place brings160 units of affordable housing to the community, 50 percent of which will have veterans preference. Within the D.C. metro area, there are more 236,000 veterans with 20-34 percent being burdened by the housing crisis...

Read More
September 27, 2022

Betances VI Brings Supportive Housing to the Bronx

“This building exemplifies how NYCHA is a driving force in the multi-agency effort to create and preserve affordable housing in New York City. We are excited to be here to celebrate the completion of the building's superstructure, and we look forward to welcoming over 100 households into their new homes soon,” said NYCHA Executive Vice President of Real Estate Jonathan Gouveia...

Read More
Jaclyn Jackson (1)
September 06, 2022

Jaclyn Jackson is Leading Great Things in Chicago

Throughout my career in social services, I have been committed to using my talents to help improve the lives of families and individuals in the communities I have had the honor to serve."  Jaclyn Jackson, NEF SVP and Chief Human Resources Officer.

Read More